In this speech, Vicky looks at how central bank balance sheet transition, higher global government bond issuance and an expanding footprint of NBFIs interact to shape a new liquidity environment. She discusses what this means for the Bank’s monetary control and financial stability objectives.
Speech
The sessions in this year’s ECB Money Market ConferenceOpens in a new window have offered a rich set of insights on the current liquidity backdrop – ranging from evolving central bank balance sheets, the functioning of collateralised markets, through to the expanding footprint of non-bank financial institutions (NBFIs). These are not isolated threads. They are deeply interwoven.
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